October lean hog futures a buying opportunity on more price strength.
See on the daily bar chart for October lean hog futures that prices on Wednesday saw an explosive and bullish upside “breakout” from the recent choppy and sideways trading range. The bulls have quickly gained good upside technical momentum. A move above chart resistance at Wednesday’s high of $88.30 would become a buying opportunity. The upside price objective would be $91.50, or above. Solid technical support, for which to place a protective sell stop just below, is located at Friday’s low of $86.85.
